It DOES work on Lion.
Have you had the passport for a long time?
I don’t have Smartware installed on mine but I did installed to see if something will be different…
The app worked both ways : with or without Smartware.
Try this :
Backup all data on the drive.
Update the firmware and install the latest version of Smartware ( just for this time )
Uninstall the software from your Mac and then see if you still have the same issue
